Killam Apartment REIT (TSE:KMP.UN) Shares Pass Below 50 Day Moving Average of $17.30

Shares of Killam Apartment REIT (TSE:KMP.UN) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$17.30 and traded as low as C$16.95. Killam Apartment REIT shares last traded at C$17.02, with a volume of 174,290 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Scotiabank dropped their price target on Killam Apartment REIT from C$21.00 to C$20.50 and set a “sector perform” rating on the stock in a research report on Monday, March 25th. National Bankshares reduced their target price on shares of Killam Apartment REIT from C$22.75 to C$21.50 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. TD Securities decreased their price target on shares of Killam Apartment REIT from C$23.00 to C$22.00 in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on shares of Killam Apartment REIT from C$23.50 to C$24.00 in a research note on Thursday, May 9th. Finally, BMO Capital Markets raised their target price on shares of Killam Apartment REIT from C$20.50 to C$22.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Killam Apartment REIT has an average rating of “Moderate Buy” and an average target price of C$21.93.

Killam Apartment REIT Price Performance

The firm has a 50-day moving average of C$17.30 and a 200-day moving average of C$18.15. The company has a debt-to-equity ratio of 85.23, a quick ratio of 0.03 and a current ratio of 0.11. The firm has a market capitalization of C$2.02 billion, a P/E ratio of 6.52 and a beta of 1.06.

Killam Apartment REIT Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 17th were issued a dividend of $0.0583 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Friday, May 31st. Killam Apartment REIT’s payout ratio is presently 26.82%.

Killam Apartment REIT Company Profile

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating, managing and developing a $2.8 billion portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: 1) increasing earnings from existing operations, 2) expanding the portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.